Jaguar Mining Inc. Closes $28 Million Bought Deal Equity Private Placement

Counsel to Jaguar Mining Inc. with respect to its $28 million bought deal LIFE offering private placement

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Team Members

On October 15, 2025, Jaguar Mining Inc. (TSX:JAG) (the “Company”) announced that it completed a bought deal private placement for gross proceeds of $28 million.  The Company sold 5,090,910 common shares at a price of $5.50 per share. Red Cloud Securities Inc. acted as lead underwriter and bookrunner on behalf of a syndicate of underwriters that included Research Capital Corporation and Ventum Financial Corp.

The Company intends to use the net proceeds of the offering to fund the restart its Turmalina gold mine in Brazil, exploration activities across the Company’s other mineral exploration properties in Brazil, and for general working capital and corporate purposes.

3,272,728 shares were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The other 1,818,182 shares were issued to Eric Sprott (through 2176423 Ontario Ltd.), a related party of the Company, via a traditional prospectus exemption for aggregate gross proceeds to the Company of $10 million.

Miller Thomson advised Jaguar Mining Inc. with a  team comprised of Geoff Clarke, Jonathan Tong, Florind Polo, Ian Polisuk and Calvin Wang (Capital Markets/Securities/Mining) along with the assistance of Radhapriya Chawla (Articling student).